Chinese Consulate, APTMA vow to boost trade, joint ventures
LAHORE: Chinese Consulate General and All Pakistan Textile Mills Association (APTMA) leadership Tuesday resolved to upsurge bilateral trade, take maximum advantage of Free Trade Agreement (FTA) and to explore possibilities of joint ventures in textile industry.
Consul General of China Mr. Zhao Shiren, Commercial Counsellor Mr. Li Haoteng, and Vice Consul Mr. Wang Yaqiang, visited APTMA office to discuss in detail the prospects, ways and means to enhance the volume of trade and joint ventures in textile industry.
Patron-in-Chief APTMA Dr Gohar Ejaz and APTMA Chairman Kamran Arshad welcomed the Chinese Consul General at APTMA. They were accompanied by Syed Ali Ahsan, former Chairman APTMA, Zonal Management Committee members including Haroon Ellahi, Muhammad Ali, Faisal Jawed, Ahsan Shahid, Ismail Fareed, Habib Anwar, leading textile exporters, Secretary General APTMA Shahid Sattar and Secretary General North Mohammad Raza Baqir.
Speaking on the occasion, Mr. Zhao Shiren said both China and Pakistan enjoy strong economic and cultural relations and China Pakistan Economic Corridor (CPEC) was an example of this robust relationship between both the countries.
He highly appreciated the role of APTMA in general and of Dr. Gohar Ejaz in particular in expansion of bilateral economic relations.
The Consul General highlighted expansion of bilateral trade since the signing of China-Pakistan Free Trade Agreement (FTA) in 2006 and resolved to further uplift trade volume by taking maximum benefits from FTA. He noted that balance of trade was presently in favour of China and assured of his help to not only expand trade volume but also to bridge the gap in balance of trade. He informed that textile goods falling in more than 800 HS tariff lines of customs chapters 50 to 63 enjoy duty free status under FTA on import into China from Pakistan.
He emphasized Pakistani textile industry to avail duty free regime widely liberalized for Pakistani textile products since implementation of Phase II of FTA in 2020. He offered all assistance from the Consulate General for ease in issuing of visas, exchange of delegations and holding of trade exhibitions.
Mr. Zhao Shiren also appreciated the investment-friendly environment in Pakistan and said that Chinese entrepreneurs were taking keen interest in enhancing business relationships with their Pakistani counterparts. He welcomed the idea of textile delegation to China for business dialogue with their Chinese counterparts and hoped that exchange of such delegations would tremendously boost trade and economic relation.
While, Dr. Gohar Ejaz highlighted deep and intimated China-Pakistan relations not only on diplomatic front but also in all spheres of life including economy, strategy and development.
He said that with lowering of energy prices, taxation reforms and low wages, Pakistan offers an ideal place to Chinese investors for joint ventures and offered to take 10 members Pakistan textile delegation to China for business to business meetings.
Gohar said that 1000 acres industrial estate was being developed in private sector in Lahore in addition to industrial estates being setup in public sector offering plug and play facilities to Chinese partners in the field of garments. He hoped that these partnerships would not only yield enormous profits to Chinese investors but also contribute to uplifting of Pakistan’s share from the existing USD 18 billion to USD 100 billion in the total global textile market of USD 900 billion.
He said that it was high time to strengthen B2B (business to business) relations between China and Pakistan, citing that economic think tank had recently been established in private sector which would also contribute to consolidation of bilateral economic ties.
Earlier, APTMA Chairman Kamran Arshad made a detailed presentation to the Consul General on textile industry of Pakistan and the prospects of mutual cooperation in textile sector. Highlighting the preferential investment incentives, he said, Special Economic Zones (SEZ) in different parts of Pakistan, especially under CPEC, were being offered for investment.
Kamran Arshad explained duty and tax exemption regime on import of plant, machinery and raw materials on investment made in SEZs.
Describing the significance of textile industry, he said, Pakistan is one of the few countries with a complete textile value chain starting from ginning, spinning, weaving, processing and garmenting.
Kamran talking about the hike in US tariff, offered Chinese entrepreneurs to shift their businesses to Pakistan in the proposed garment cities with Plug and Play facilities to avail lower US tariff on goods originating from Pakistan. He also referred to the recent request sent by the Punjab government to Mr. Zhang Xinmin, Chairman, China Chamber of Commerce for Import & Export of Textiles, Beijing, China, for joint venture in textile and solicited support of Consulate General and the Embassy in following-up the progress on the said letter. Staff Report
